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Container Volumes Reach New Heights in ’24, CTS

[ February 28, 2025   //   ]

Global container volumes increased 6 percent in 2024 to 183.2 million twenty-foot-equivalent units, according to full-year figures from Container Trades Statistics Ltd., or CTS.
Three months in 2024 – May, August and December – each surpassing 16 million TEUs, a first in history. This achievement contrasts sharply with a relatively flatter 2023, which was impacted by the post-Covid rush and stockpiling in 2022.
North America demonstrated the most significant growth in imports for 2024, increasing by 12 percent year on year. Although still in third place for regional imports, North America is rapidly closing the gap with Europe, which held the second position for 2024. In contrast, North America experienced a 5 percent decline in 2023 compared to 2022. Far East exports to North America were up by 14 percent, with Los Angeles continuing to be a primary port, handling over 90 percent of cargo from the Far East.
Far East exports were the highest-performing sector of 2024, increasing 8 percent from 2023 and by 10 percent from 2022. The Far East accounted for 61 percent of the global export mix, up from 59 percent in 2023. This growth was particularly notable in dry goods, though reefer volumes also showed strong performance, being the second-largest reefer exporter after South and Central America, which remains the largest transporter of refrigerated cargo.
Asia’s export growth to North America remains dominant, though Europe 9 percent) and the Indian Subcontinent and Middle East (12 percent) have shown significant increases in exports compared to 2023.
While Australasia and Oceania exports generally lag other regions due to their geographical size and location, the Indian Subcontinent and Middle East 2024 saw 34 percent growth in exports compared to 2023, and up 58 percent compared to 2022. Most of this growth is attributed to India, where imports have more than doubled from 2022 to 2024, CTS said.
Despite the overall positive outlook, not all countries saw growth. Germany’s exports experienced the largest decline in 2024, at 4 percent. This marks a continuation of the negative trend from 2023, which saw a 3 percent drop in exports compared to 2022, primarily due to reduced volumes to China.
“As we look ahead to 2025, several questions remain: will the impressive volumes seen in 2024 continue, or will growth begin to level off? Will new emerging markets, such as India, continue to rise?” CTS asked. “The market has proven its resilience despite challenges posed by pandemics, economic uncertainty, and political changes, and the global container market continues to adapt to its circumstances.”

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